Post Separation Assets
Overview
When a couple separates, one of the key issues to address is the division of assets. This process can be complex, especially when it comes to post-separation assets acquired during the relationship. Wright Street Lawyers in Adelaide, South Australia, can provide client-focused guidance and representation in navigating the legal complexities surrounding post-separation assets.
How are Post Separation Assets Defined?
Post separation assets refer to any property or financial resources acquired by either party following the separation of a couple. These assets can include real estate, investments, savings, businesses, and more. It is essential to properly identify and value these assets to ensure a fair division during the settlement process.
Factors Considered in Division of Post Separation Assets
Several factors are taken into account when determining the division of post separation assets, including:
- Contribution of each party to the acquisition of assets
- Duration of the relationship
- Future needs of each party
- Financial resources of each party
Frequently Asked Questions
1. How are post separation assets divided in Australia?
In Australia, the division of assets is governed by the Family Law Act 1975, which requires a ‘just and equitable’ division based on the individual circumstances of each case.
2. Do post separation assets include inheritances?
Inheritances received post-separation are generally treated as individual assets and may not be subject to division in a property settlement. However, the specific circumstances of each case can impact this.
3. What if there is a dispute over the value of post separation assets?
If there is a disagreement regarding the valuation of assets, client-focused advice may be sought to assess and determine the accurate value of the assets in question.
Consult Wright Street Lawyers for client-focused Guidance
Dividing post separation assets can be a complex and emotionally charged process. It is crucial to seek legal advice from experienced family law practitioners like Wright Street Lawyers in Adelaide, South Australia. Our team specialises in family law matters, estate planning, probate, and criminal defense, providing tailored solutions to meet your specific needs.
Contact Wright Street Lawyers today to schedule a consultation and protect your rights during the division of post separation assets.
